REG - Cloudbreak Discovery - EIS Geophysics Application Granted at Paterson, WA

Cloudbreak DiscoveryAnnouncement

20/05/2026 07:00

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RNS Number : 9579E  Cloudbreak Discovery PLC  20 May 2026

20 May 2026

Cloudbreak Discovery Plc

('Cloudbreak', or 'the Company')

 

EIS Geophysics Application Granted at Paterson, WA

Cloudbreak Discovery PLC (LSE:CDL), a London Stock Exchange Main Market listed
company, is pleased to advise that an application for a co-funded geophysics
program has been granted covering the Company's Paterson Project located ~40km
south of the Telfer Gold-Copper Mine and ~60kms SW of the Havieron Gold-Copper
Mine in the Paterson region of Western Australia ("Paterson") (Figure 1).

 

·    Geophysics program award under the West Australian Government's
Exploration Incentive Scheme (EIS) covering the Paterson Project

 

·    Co-funded geophysics grant of up to $269,270 ($438,540 project
overall cost, 50% funded by government plus a one-off payment of up to
$50,000) to undertake widespread, semi-regional, MobileMT Surveying

 

·    MobileMT surveying in the Paterson region has already proven to be
effective in mapping resistivity contrasts, structure and geological
complexity / direct targets under considerable cover depths

 

·    Cloudbreak has built a large, strategic landholding within the
Paterson region (~888km²) which is deemed prospective for
copper-gold-molybdenum mineralisation.

 

 

The Paterson Project represents a strategic 888km² land package in Western
Australia's premier exploration frontier, located just 40km from the
15-million-ounce Telfer Gold-Copper Mine. With compelling historical drill
results (Cu, Au and Mo) and multiple untested geophysical targets, this
project offers substantial discovery potential in a region renowned for major
mining operations and new discoveries.

 

 

Commenting on the EIS Co-Funding grant, MD Tom Evans said: "We are delighted
to secure EIS co-funding support from the Western Australian Government for
this major MobileMT program across our Paterson Project. The survey represents
a significant step forward in systematically unlocking the potential of our
888km² landholding in one of Australia's most prospective copper-gold
districts.

The MobileMT program will provide critical regional-scale geological and
structural data beneath cover, helping us refine existing targets and identify
new priority areas for drilling. Importantly, the grant allows us to
accelerate exploration while materially reducing the cost burden to
shareholders.

 

With increasing industry attention on the Paterson region following several
major discoveries, we believe Cloudbreak is strongly positioned to advance a
large-scale exploration strategy in a highly sought-after mineral province.

 

Importantly, the Company remains fully funded for its planned exploration
activities, including the upcoming Darlot drill campaign, which I look forward
to updating the market on shortly."

 

Commenting on the EIS Co-Funding grant and geophysical technical aspects,
Consultant Geophysicist Russell Mortimer said: "Co-funded, systematic MobileMT
surveying over the Paterson Project will greatly enhance/support geological
and structural mapping to deep level across the full tenement package, with
the ultimate aim to highlight and confirm prospect scale priority targets
supported by all other available geophysical data/methods"

 Figure 1 - Paterson Project - Regional Location/Tenement Package Plan

 MobileMT Survey and Forward Program

 The proposed MobileMT AEM survey encompasses approximately 2,771 line kms.
 Coverage is proposed to be acquired at 400m spaced survey lines (flown NE-SW)
 to provide effective exploration for large mineral systems (Figure 2). Line
 spacing is believed to be suitable for detection of sulphide bodies/alteration
 systems of significant areal size/footprint at reasonable exploration depth
 under cover. Planned survey lines are designed to be roughly perpendicular to
 the average geological strike, which is believed optimal. Survey height/sensor
 height is proposed to be ~60-80m above ground level. This modern passive AEM
 survey is appropriate for the exploration target/geological model, as it has
 the ability to rapidly map structure, conductors/resistors (relative
 resistivity contrasts) under significant cover/overburden over broad project
 areas. Such surveying has been very valuable for a number of exploration
 groups within the Paterson region in recent years to provide direct
 exploration vectors - St George, Wishbone and Rincon.
 The survey will be flown by Expert Geophysics in the coming months with their
 proprietary MobileMT AFMAG system and interpretation will be completed by
 Russell Mortimer of Southern Geoscience Consultants (SGC).

 MobileMT is an airborne natural-field electromagnetic technology that maps
 subsurface resistivity by measuring variations in naturally occurring EM
 signals over a broad frequency range. The heliborne system is designed for
 broadband acquisition (26 Hz to 21 kHz), providing sensitivity to both shallow
 and deep structures. The resulting products are geology-meaningful resistivity
 images that support 3D resistivity mapping, structural interpretation, and
 targeting.

 

Figure 2 - Paterson Project - Proposed MobileMT Survey Coverage 2026 over
Regional Aeromagnetic Imagery

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

-END-

 

For Further Information, please contact:

 

 Cloudbreak Discovery PLC  Peter Huljich, Chairman          Tel: +44 207 887 6139

                           Tom Evans, Managing Director     Tel: +44 7851 703440
 AlbR Capital Limited      David Coffman / Dan Harris       Tel: +44 207 469 0930

 (Financial Adviser)
 Marex Financial           Angelo Sofocleous / Matt Bailey  Tel: +44 (0) 207 655 6000

 (Broker)                                                   Email: corporate@marex.com

 

 

 

About Cloudbreak Discovery PLC
LSE listed Cloudbreak Discovery PLC is a leading gold, precious and base metals resource explorer. Cloudbreak is focused on mineral exploration in Western Australia with the aim of bringing near-term cashflow and driving shareholder value. Through its wholly owned subsidiaries, the Company will develop its array of mineral assets, whilst continuing to generate new projects with a particular focus on commodities with high intrinsic value. Cloudbreak's generative model across the mineral sector enables a multi-asset approach to investing in the commodity cycle.

 

The information presented herein that relates to Exploration Results from
information compiled and reviewed by Russell Mortimer, a Competent Person who
is a Member of The Australian Institute of Geoscientists and fairly represents
this information. Mr Mortimer has sufficient experience relevant to the style
of mineralisation and type of deposit under consideration, and to the
activities undertaken, to qualify as a Competent Person as defined in the 2012
Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr
Mortimer is an independent Consultant Geophysicist at Southern Geoscience
Consultants Pty Ltd and consents to the inclusion in the report of the matters
based on his information in the form and context in which it appears.

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